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Galena Capital Corp. signs LOI for Innovative Oil Sands Technology
Vancouver, BC, February 07, 2011 – Galena Capital Corp. (TSXV:FYI) (the “Company” or “Galena”), a Vancouver based company listed on the TSX Venture Exchange, is pleased to announce it has entered into a non-binding Letter of Intent with Imperial Petroleum, Inc. (“Imperial”), a U.S. based company (www.ImperialPetroleumInc.com).
A wholly owned subsidiary of Imperial holds a process technology license (the “License”) respecting a patented and proprietary process that allows for the recovery of bitumen from oil sands (tar sands). The technology utilizes a non-thermal, mechanical and chemical process in a closed-loop system to recover bitumen from oil sands. The closed-loop process results in zero discharge, except for clean sand and the separated bitumen product.
The Letter of Intent contemplates:
• The formation of a new entity to be named “Arena Energy, LLC” (“Arena”), which
is expected to be a Nevada LLC whose capital stock will be owned, directly or
indirectly, by Galena and Imperial on a 50/50 basis.
• Arena and Imperial will sign a sub-license agreement under which Arena will
have a non-exclusive sub-license to use the oil sands recovery technology for
development of a specific project in the United States.
• Galena will invest US$850,000 in Arena which will be used to fund: (i) the
purchase of the sub-license of the oil sands recovery technology; (ii) acquisition
of a production unit capable of processing up to 2,500 tons of oil sands per 24
hour period; (iii) lease and equipment acquisition and general start up expenses.
• Galena will be entitled to recover its invested capital out of 80% of the net cash
flow of Arena after which the 50/50 profit sharing will come into effect.
• The parties’ obligations are subject to completion of due diligence, the execution
of a definitive agreement between Galena and Imperial, and receipt of all
required regulatory approvals.
Galena and Imperial intend that Arena will install its initial operation at one of several potential sites in the U.S. that will provide sufficient minable oil sands capable of sustaining operations for several years. Based on proof of concept production runs by Imperial, the production unit to be acquired by Arena is estimated to commence operations at 300 tons per day with a goal of expanding to 2,400 tons per day based on Imperial’s estimate of the production unit’s maximum capacity.
“Management of Galena looks forward to the satisfactory completion of the due diligence and finalization of a definitive agreement between Galena and Imperial. This proprietary technology and process could position Galena at the forefront of new oil recovery technologies and will provide a highly scalable business model”, states CEO John Seaman.
ON BEHALF OF THE BOARD OF DIRECTORS
GALENA CAPITAL CORP.
http://www.galenacorp.com/2011_February_7_release.pdf
Vancouver, BC, February 07, 2011 – Galena Capital Corp. (TSXV:FYI) (the “Company” or “Galena”), a Vancouver based company listed on the TSX Venture Exchange, is pleased to announce it has entered into a non-binding Letter of Intent with Imperial Petroleum, Inc. (“Imperial”), a U.S. based company (www.ImperialPetroleumInc.com).
A wholly owned subsidiary of Imperial holds a process technology license (the “License”) respecting a patented and proprietary process that allows for the recovery of bitumen from oil sands (tar sands). The technology utilizes a non-thermal, mechanical and chemical process in a closed-loop system to recover bitumen from oil sands. The closed-loop process results in zero discharge, except for clean sand and the separated bitumen product.
The Letter of Intent contemplates:
• The formation of a new entity to be named “Arena Energy, LLC” (“Arena”), which
is expected to be a Nevada LLC whose capital stock will be owned, directly or
indirectly, by Galena and Imperial on a 50/50 basis.
• Arena and Imperial will sign a sub-license agreement under which Arena will
have a non-exclusive sub-license to use the oil sands recovery technology for
development of a specific project in the United States.
• Galena will invest US$850,000 in Arena which will be used to fund: (i) the
purchase of the sub-license of the oil sands recovery technology; (ii) acquisition
of a production unit capable of processing up to 2,500 tons of oil sands per 24
hour period; (iii) lease and equipment acquisition and general start up expenses.
• Galena will be entitled to recover its invested capital out of 80% of the net cash
flow of Arena after which the 50/50 profit sharing will come into effect.
• The parties’ obligations are subject to completion of due diligence, the execution
of a definitive agreement between Galena and Imperial, and receipt of all
required regulatory approvals.
Galena and Imperial intend that Arena will install its initial operation at one of several potential sites in the U.S. that will provide sufficient minable oil sands capable of sustaining operations for several years. Based on proof of concept production runs by Imperial, the production unit to be acquired by Arena is estimated to commence operations at 300 tons per day with a goal of expanding to 2,400 tons per day based on Imperial’s estimate of the production unit’s maximum capacity.
“Management of Galena looks forward to the satisfactory completion of the due diligence and finalization of a definitive agreement between Galena and Imperial. This proprietary technology and process could position Galena at the forefront of new oil recovery technologies and will provide a highly scalable business model”, states CEO John Seaman.
ON BEHALF OF THE BOARD OF DIRECTORS
GALENA CAPITAL CORP.
http://www.galenacorp.com/2011_February_7_release.pdf
Resinco Capital Partners Inc. Grants Stock Options
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 7, 2011) - Resinco Capital Partners Inc. (TSX:RIN)(FRANKFURT:L6V) (the "Company") advises that it has granted incentive stock options to members of the Technical Advisory Board of the Company, whose contracts have come up for renewal, entitling them to purchase up to 25,000 common shares each, for a total of 100,000 common shares of the capital stock in the Company at a price of $0.145 per share for the next 5 years.
The above is subject to regulatory approval.
On behalf of the Board of Directors
Hein Poulus, Chairman of the Board
http://www.marketwire.com/press-release/Resinco-Capital-Part…
Pinetree Capital acquires Salmon River shares
2011-02-07 18:00 ET - News Release
See News Release (C-PNP) Pinetree Capital Ltd
Mr. Sheldon Inwentash of Pinetree Capital reports
PINETREE CAPITAL LTD. ACQUIRES SECURITIES OF SALMON RIVER RESOURCES
On Feb. 4, 2011, Pinetree Capital Ltd. acquired ownership of 250,000 common shares of Salmon River Resources Ltd. through the facilities of the TSX Venture Exchange, representing approximately 0.6 per cent of the total issued and outstanding common shares of Salmon River as of Jan. 4, 2011. As a result of this transaction, Pinetree and its joint actor collectively held, as at Feb. 4, 2011, a total of 4.25 million common shares of Salmon River, including the common shares, or approximately 10.86 per cent of the total issued and outstanding common shares of Salmon River as of Feb. 4, 2011. Of these totals, Pinetree owns 2.25 million common shares, including the common shares, directly, or approximately 5.7 per cent of the total issued and outstanding common shares of Salmon River as of Feb. 4, 2011.
This transaction was made for investment purposes and Pinetree could increase or decrease its investment in Salmon River depending on market conditions or any other relevant factor.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:SAL-1806679…
Finavera Wind changes name, consolidates shares
2011-02-07 17:13 ET - News Release
Mr. Jason Bak reports
FINAVERA RENEWABLES CHANGES NAME TO FINAVERA WIND ENERGY AND CONSOLIDATES SHARES
Finavera Renewables Inc. has received the approval of the TSX Venture Exchange regarding the consolidation of its issued common shares on the basis of one new share for 10 old shares. The consolidation was approved by shareholders on Sept. 15, 2010. Effective at the opening of trading on Feb. 8, 2011, the company's common shares will begin trading on the exchange on a consolidated basis. The company's trading symbol FVR will not change. On a postconsolidated basis, there will be 30,407,764 common shares issued and outstanding. The company also announces that it has changed its name to Finavera Wind Energy, Inc.
Finavera Renewables' chief executive officer, Jason Bak, said: "Our new name represents our singular focus on becoming the premier publically traded wind energy developer in North America. We have carried out this share consolidation in order to improve the attractiveness of our shares to a broader range of institutional and retail investors. In combination with our new name, we believe we have set the stage for an exciting new stage in Finavera's growth."
The new Cusip for the company's postconsolidation common shares is 31771W101. Registered shareholders will receive a letter of transmittal to exchange their original common shares for postconsolidation common shares. Beneficial shareholders will have their accounts automatically adjusted.
We seek Safe Harbor.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:FVR-1806664…
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 7, 2011) - Resinco Capital Partners Inc. (TSX:RIN)(FRANKFURT:L6V) (the "Company") advises that it has granted incentive stock options to members of the Technical Advisory Board of the Company, whose contracts have come up for renewal, entitling them to purchase up to 25,000 common shares each, for a total of 100,000 common shares of the capital stock in the Company at a price of $0.145 per share for the next 5 years.
The above is subject to regulatory approval.
On behalf of the Board of Directors
Hein Poulus, Chairman of the Board
http://www.marketwire.com/press-release/Resinco-Capital-Part…
Pinetree Capital acquires Salmon River shares
2011-02-07 18:00 ET - News Release
See News Release (C-PNP) Pinetree Capital Ltd
Mr. Sheldon Inwentash of Pinetree Capital reports
PINETREE CAPITAL LTD. ACQUIRES SECURITIES OF SALMON RIVER RESOURCES
On Feb. 4, 2011, Pinetree Capital Ltd. acquired ownership of 250,000 common shares of Salmon River Resources Ltd. through the facilities of the TSX Venture Exchange, representing approximately 0.6 per cent of the total issued and outstanding common shares of Salmon River as of Jan. 4, 2011. As a result of this transaction, Pinetree and its joint actor collectively held, as at Feb. 4, 2011, a total of 4.25 million common shares of Salmon River, including the common shares, or approximately 10.86 per cent of the total issued and outstanding common shares of Salmon River as of Feb. 4, 2011. Of these totals, Pinetree owns 2.25 million common shares, including the common shares, directly, or approximately 5.7 per cent of the total issued and outstanding common shares of Salmon River as of Feb. 4, 2011.
This transaction was made for investment purposes and Pinetree could increase or decrease its investment in Salmon River depending on market conditions or any other relevant factor.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:SAL-1806679…
Finavera Wind changes name, consolidates shares
2011-02-07 17:13 ET - News Release
Mr. Jason Bak reports
FINAVERA RENEWABLES CHANGES NAME TO FINAVERA WIND ENERGY AND CONSOLIDATES SHARES
Finavera Renewables Inc. has received the approval of the TSX Venture Exchange regarding the consolidation of its issued common shares on the basis of one new share for 10 old shares. The consolidation was approved by shareholders on Sept. 15, 2010. Effective at the opening of trading on Feb. 8, 2011, the company's common shares will begin trading on the exchange on a consolidated basis. The company's trading symbol FVR will not change. On a postconsolidated basis, there will be 30,407,764 common shares issued and outstanding. The company also announces that it has changed its name to Finavera Wind Energy, Inc.
Finavera Renewables' chief executive officer, Jason Bak, said: "Our new name represents our singular focus on becoming the premier publically traded wind energy developer in North America. We have carried out this share consolidation in order to improve the attractiveness of our shares to a broader range of institutional and retail investors. In combination with our new name, we believe we have set the stage for an exciting new stage in Finavera's growth."
The new Cusip for the company's postconsolidation common shares is 31771W101. Registered shareholders will receive a letter of transmittal to exchange their original common shares for postconsolidation common shares. Beneficial shareholders will have their accounts automatically adjusted.
We seek Safe Harbor.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:FVR-1806664…
Mesa Uranium JV Partner Passport Potash Commences Geophysical Survey at Holbrook Potash Project
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 3, 2011) - Mesa Uranium Corp. (TSX VENTURE:MSA)(PINK SHEETS:MSAJF) ("Mesa" or the "Company") is pleased to announce that our joint venture partner Passport Potash Inc. ("Passport") has commenced a 50-line-mile seismic survey at the Holbrook basin site. The survey, being performed by Zonge International, will include the lands subject to a joint venture between Mesa and Passport. Passport is the operator of the joint venture; all exploration expenditures on the joint venture are paid by Passport.
The results of the seismic survey will be used in evaluating geologic, stratigraphic and structural information for the Holbrook basin, improving Passport's ability to assess the predictability, thickness and continuity of the potash horizon and the mapping of faults and other geologic structures within those rock units of primary interest. This information will be included and utilized in the NI 43-101 report being prepared by SRK Consulting for Passport.
Commenting on the seismic survey, Mesa President Foster Wilson stated: "Mesa is very pleased with Passports modern exploration strategy and their selection of first-rate contractors to advance the Holbrook basin potash deposits towards resource development."
About Mesa Uranium
Mesa is exploring a portfolio of premier uranium, lithium and potash properties in the United States where it controls significant land holdings. All projects are within proven mining districts with excellent access and infrastructure. Mesa currently has 12.2 million shares issued and outstanding, and has no debt. For further information please visit our website at www.mesauranium.com.
http://www.marketwire.com/press-release/Mesa-Uranium-JV-Part…
Mesa Uranium grants options to buy 947,666 shares
2011-02-03 18:58 ET - Options Proposed
Mr. Foster Wilson reports
STOCK OPTION GRANTING
Mesa Uranium Corp. has granted incentive stock options to a director, officers and employees of the corporation to purchase up to 947,666 common shares in the corporation pursuant to a shareholder approved share option plan. The options are exercisable on or before Feb. 3, 2016, at a price of 77 cents per share.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:MSA-1806051…
Woulfe Mining to drill exploration hole at Muguk
2011-02-04 09:09 ET - News Release
Mr. Brian Wesson reports
WOULFE MINING TO DRILL INVESTIGATION HOLE AT MUGUK GOLD DEPOSIT
Woulfe Mining Corp. will execute the drilling of a 520-metre exploration hole to investigate the possible extension of the vein 2 lode at the Muguk prospect. Vein 2 was historically the generator of around 75 per cent of the gold production from the mine. Analysis of geological trends and historical underground sampling suggests that vein 2 may extend to the north of the historically defined resource.
The hole is targeted to intersect the ore position at around 165 m to the north of the last mine, working on the level 12 (420 m from surface) and 125 m below a historical exploration drive on the level 8 (285 m from surface). The most northerly historical underground sampling on the level 12 indicates the vein to be 2.1 m true thickness at 10.7 grams per tonne gold. On level 8 immediately above the target area, historical sampling shows the vein to be 1.6 m true thickness with grades varying from 5.8 g/t to 14.7 g/t. The drilling is scheduled to commence on Feb. 15.
The Muguk mine was the most productive gold mine in South Korea with a reported historical cut-off grade of eight grams per tonne and a life of mine head grade of 11 g/t with mill recovery rates reported as 96 per cent. The mine ceased operation in 1997 due to very low gold prices with significant historical resource left in situ.
Brian Wesson, president, chief executive officer and director of Woulfe, stated: "The Muguk gold mine has the potential to be a major asset in the Woulfe portfolio. We are committed to defining the resource to NI 43-101 standards. This hole will test the northern extension of the historical resource. If the mineralization continues, we will develop a plan which includes expanding the resource in addition to bringing it to current standards."
The information described in this news release has been reviewed and approved by Colin Lutherborrow, a qualified person under National Instrument 43-101.
We seek Safe Harbor.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:WOF-1806127…
PDF zur heutigen konferenz mit mr. wesson (rechtsklick und ziel speichern unter..)
https://eu42-rr.spreed.net/rrr/repo/47864975/application/pdf…
alternativ
WoulfeNew2011.pdf
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 3, 2011) - Mesa Uranium Corp. (TSX VENTURE:MSA)(PINK SHEETS:MSAJF) ("Mesa" or the "Company") is pleased to announce that our joint venture partner Passport Potash Inc. ("Passport") has commenced a 50-line-mile seismic survey at the Holbrook basin site. The survey, being performed by Zonge International, will include the lands subject to a joint venture between Mesa and Passport. Passport is the operator of the joint venture; all exploration expenditures on the joint venture are paid by Passport.
The results of the seismic survey will be used in evaluating geologic, stratigraphic and structural information for the Holbrook basin, improving Passport's ability to assess the predictability, thickness and continuity of the potash horizon and the mapping of faults and other geologic structures within those rock units of primary interest. This information will be included and utilized in the NI 43-101 report being prepared by SRK Consulting for Passport.
Commenting on the seismic survey, Mesa President Foster Wilson stated: "Mesa is very pleased with Passports modern exploration strategy and their selection of first-rate contractors to advance the Holbrook basin potash deposits towards resource development."
About Mesa Uranium
Mesa is exploring a portfolio of premier uranium, lithium and potash properties in the United States where it controls significant land holdings. All projects are within proven mining districts with excellent access and infrastructure. Mesa currently has 12.2 million shares issued and outstanding, and has no debt. For further information please visit our website at www.mesauranium.com.
http://www.marketwire.com/press-release/Mesa-Uranium-JV-Part…
Mesa Uranium grants options to buy 947,666 shares
2011-02-03 18:58 ET - Options Proposed
Mr. Foster Wilson reports
STOCK OPTION GRANTING
Mesa Uranium Corp. has granted incentive stock options to a director, officers and employees of the corporation to purchase up to 947,666 common shares in the corporation pursuant to a shareholder approved share option plan. The options are exercisable on or before Feb. 3, 2016, at a price of 77 cents per share.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:MSA-1806051…
Woulfe Mining to drill exploration hole at Muguk
2011-02-04 09:09 ET - News Release
Mr. Brian Wesson reports
WOULFE MINING TO DRILL INVESTIGATION HOLE AT MUGUK GOLD DEPOSIT
Woulfe Mining Corp. will execute the drilling of a 520-metre exploration hole to investigate the possible extension of the vein 2 lode at the Muguk prospect. Vein 2 was historically the generator of around 75 per cent of the gold production from the mine. Analysis of geological trends and historical underground sampling suggests that vein 2 may extend to the north of the historically defined resource.
The hole is targeted to intersect the ore position at around 165 m to the north of the last mine, working on the level 12 (420 m from surface) and 125 m below a historical exploration drive on the level 8 (285 m from surface). The most northerly historical underground sampling on the level 12 indicates the vein to be 2.1 m true thickness at 10.7 grams per tonne gold. On level 8 immediately above the target area, historical sampling shows the vein to be 1.6 m true thickness with grades varying from 5.8 g/t to 14.7 g/t. The drilling is scheduled to commence on Feb. 15.
The Muguk mine was the most productive gold mine in South Korea with a reported historical cut-off grade of eight grams per tonne and a life of mine head grade of 11 g/t with mill recovery rates reported as 96 per cent. The mine ceased operation in 1997 due to very low gold prices with significant historical resource left in situ.
Brian Wesson, president, chief executive officer and director of Woulfe, stated: "The Muguk gold mine has the potential to be a major asset in the Woulfe portfolio. We are committed to defining the resource to NI 43-101 standards. This hole will test the northern extension of the historical resource. If the mineralization continues, we will develop a plan which includes expanding the resource in addition to bringing it to current standards."
The information described in this news release has been reviewed and approved by Colin Lutherborrow, a qualified person under National Instrument 43-101.
We seek Safe Harbor.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:WOF-1806127…
PDF zur heutigen konferenz mit mr. wesson (rechtsklick und ziel speichern unter..)
https://eu42-rr.spreed.net/rrr/repo/47864975/application/pdf…
alternativ
WoulfeNew2011.pdf
Mesa Uranium Acquires Uranium Leases
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 2, 2011) - Mesa Uranium Corp. (TSX VENTURE:MSA)(PINK SHEETS:MSAJF) ("Mesa" or the "Company") is pleased to announce the acquisition from the State of a Utah a uranium lease consisting of 2,560 acres located in the Seven Mile Uranium District of Southeastern Utah. Mesa has also acquired a mineral lease for the Lone Star mine, an historic producer of uranium. The Lone Star mine consists of approximately 20 acres and is located in the Lisbon Valley Mining District in southeastern Utah. Production from the Lone Star was not significant however there is excellent potential for the discovery of uranium on the claim. Both mineral leases were acquired for nominal annual payments and a royalty.
Mesa will evaluate available drill logs, geologic maps and production records to guide future exploration work.
About Mesa Uranium
Mesa is exploring a portfolio of premier uranium, lithium and potash properties in the United States where it controls significant land holdings. All projects are within proven mining districts with excellent access and infrastructure. Mesa currently has 12.2 million shares issued and outstanding. For further information please visit our website at www.mesauranium.com.
http://www.marketwire.com/press-release/Mesa-Uranium-Acquire…
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 2, 2011) - Mesa Uranium Corp. (TSX VENTURE:MSA)(PINK SHEETS:MSAJF) ("Mesa" or the "Company") is pleased to announce the acquisition from the State of a Utah a uranium lease consisting of 2,560 acres located in the Seven Mile Uranium District of Southeastern Utah. Mesa has also acquired a mineral lease for the Lone Star mine, an historic producer of uranium. The Lone Star mine consists of approximately 20 acres and is located in the Lisbon Valley Mining District in southeastern Utah. Production from the Lone Star was not significant however there is excellent potential for the discovery of uranium on the claim. Both mineral leases were acquired for nominal annual payments and a royalty.
Mesa will evaluate available drill logs, geologic maps and production records to guide future exploration work.
About Mesa Uranium
Mesa is exploring a portfolio of premier uranium, lithium and potash properties in the United States where it controls significant land holdings. All projects are within proven mining districts with excellent access and infrastructure. Mesa currently has 12.2 million shares issued and outstanding. For further information please visit our website at www.mesauranium.com.
http://www.marketwire.com/press-release/Mesa-Uranium-Acquire…
Source Samples 12 Metres of 8.59 g/t Gold, 140.0 g/t Silver and 0.53% Copper at Las Boquillas; Sampling at Cinco Senores and Area Deposits Confirms Widespread Gold-Silver-Copper Mineralization
THUNDER BAY, ONTARIO--(Marketwire - Feb. 2, 2011) - Source Exploration Corp. ("Source" or the "Company") (TSX VENTURE:SOP) is pleased to announce additional assay results for its surface and underground rock sampling program at its recently acquired Las Minas project located in western Veracruz State, Mexico. Assay results have been received for sampling at the Las Boquillas, Cinco Senores, Yanillo and Las Minillas skarn targets as well as the La Miqueta, San Jose de Oro and El Alto historical mines.
"These recent assay results for the Las Boquillas and Cinco Senores skarn zones are very encouraging as they confirm the potential for outlining a bulk tonnage skarn deposits with significant gold, silver and copper mineralization," states Brian Robertson, Source's President and CEO. "Sampling at other target areas on the property has also identified additional high priority drill targets." "These early results will guide our upcoming diamond drilling program, which is scheduled to commence in February."
Sampling Results
The samples for Las Boquillas and Cinco Senores were all located within the Endoskarn, with highlights of recent assay presented in Tables 1 and 2 below. Current work suggests that the Las Boquillas and Cinco Senores mineralized zones are from the same system. When combined with the El Dorado and Nopaltepec zones, the indicated strike length of the system is approximately 2 kilometres, with widths often in the tens of metres. Plan maps showing the various sites and location of the samples at Las Boquillas Adit #3 can be viewed on the Company's website at www.sourceexploration.com – see Project – Maps.
Table 1 Sampling Results Las Boquillas Adit #3
[...]
http://www.marketwire.com/press-release/Source-Samples-12-Me…
Woulfe Mining Update on Korea Zinc Agreement and Drilling Progress
VANCOUVER, BRITISH COLUMBIA, Feb 2, 2011 (Marketwire via COMTEX News Network) --
Woulfe Mining Corp. (TSX VENTURE:WOF) ("Woulfe" or the "Company") is pleased to announce that Korea Zinc Co. Ltd. ("Korea Zinc") has completed its initial phase of due diligence and is satisfied with the Company's data. Korea Zinc wishes to progress the Strategic Partner transaction as announced on November 23rd 2010. Korea Zinc and Woulfe are working together to advance the project with the objective of concluding a definitive deal.
The project evaluation process has been briefly delayed at the Sangdong tungsten/molybdenum project as the drilling of the initial production area, from the unmined areas above the valley floor, has progressed more slowly than expected due to delays in obtaining spare parts and the extreme winter conditions in Korea. The weather in particular has caused the ice-over of the one level and access incline, preventing access for drilling.
Drilling Update
The drilling program of 5000 metres announced on December 6th 2010 has been redesigned to include 2000 metres of surface drilling. The underground drilling is being carried out by electric/hydraulic drills in main areas and kempe-pneumatic drills in the smaller areas.
As previously reported, power was installed and commissioned to the site over the Christmas holiday period and is currently being installed underground for the drilling. The drilling is targeting the KORES NI 43-101 non-compliant historical reserves from 1998 which suggest a target grade of above 0.4% is to be expected in un-mined areas. These areas remain un-mined as they protect the old mine infrastructure excavations that are not required in the new mine plan. A qualified person has not done sufficient work to classify historical estimates as current mineral resources or reserves and the Company is not treating the historical estimate as current mineral resources or reserves but as a historical estimate that should not be relied upon.
Brian Wesson, President, CEO and Director of Woulfe said, "We are working closely with Korea Zinc to advance the Strategic Partner deal. We are disappointed at the speed of progress of the agreed drill plan as the data is required to complete a review of our resources and mining plan for the initial years of mining. It is in the initial years that the mining plan shows the project capital will be recouped.
"However, given the redesign of the program and the appointment of Mr Don Smith, an experienced Australian Geologist on site, we are confident that we can complete the drilling by Q2 this year which will be followed by an updated resource estimate."
The information described in this news release, has been reviewed and approved by Colin Lutherborrow, a Qualified Person under National Instrument 43-101.
On Behalf of the Board of Directors
Woulfe Mining Corp.
Brian Wesson, President, CEO and Director
http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n…
THUNDER BAY, ONTARIO--(Marketwire - Feb. 2, 2011) - Source Exploration Corp. ("Source" or the "Company") (TSX VENTURE:SOP) is pleased to announce additional assay results for its surface and underground rock sampling program at its recently acquired Las Minas project located in western Veracruz State, Mexico. Assay results have been received for sampling at the Las Boquillas, Cinco Senores, Yanillo and Las Minillas skarn targets as well as the La Miqueta, San Jose de Oro and El Alto historical mines.
"These recent assay results for the Las Boquillas and Cinco Senores skarn zones are very encouraging as they confirm the potential for outlining a bulk tonnage skarn deposits with significant gold, silver and copper mineralization," states Brian Robertson, Source's President and CEO. "Sampling at other target areas on the property has also identified additional high priority drill targets." "These early results will guide our upcoming diamond drilling program, which is scheduled to commence in February."
Sampling Results
The samples for Las Boquillas and Cinco Senores were all located within the Endoskarn, with highlights of recent assay presented in Tables 1 and 2 below. Current work suggests that the Las Boquillas and Cinco Senores mineralized zones are from the same system. When combined with the El Dorado and Nopaltepec zones, the indicated strike length of the system is approximately 2 kilometres, with widths often in the tens of metres. Plan maps showing the various sites and location of the samples at Las Boquillas Adit #3 can be viewed on the Company's website at www.sourceexploration.com – see Project – Maps.
Table 1 Sampling Results Las Boquillas Adit #3
[...]
http://www.marketwire.com/press-release/Source-Samples-12-Me…
Woulfe Mining Update on Korea Zinc Agreement and Drilling Progress
VANCOUVER, BRITISH COLUMBIA, Feb 2, 2011 (Marketwire via COMTEX News Network) --
Woulfe Mining Corp. (TSX VENTURE:WOF) ("Woulfe" or the "Company") is pleased to announce that Korea Zinc Co. Ltd. ("Korea Zinc") has completed its initial phase of due diligence and is satisfied with the Company's data. Korea Zinc wishes to progress the Strategic Partner transaction as announced on November 23rd 2010. Korea Zinc and Woulfe are working together to advance the project with the objective of concluding a definitive deal.
The project evaluation process has been briefly delayed at the Sangdong tungsten/molybdenum project as the drilling of the initial production area, from the unmined areas above the valley floor, has progressed more slowly than expected due to delays in obtaining spare parts and the extreme winter conditions in Korea. The weather in particular has caused the ice-over of the one level and access incline, preventing access for drilling.
Drilling Update
The drilling program of 5000 metres announced on December 6th 2010 has been redesigned to include 2000 metres of surface drilling. The underground drilling is being carried out by electric/hydraulic drills in main areas and kempe-pneumatic drills in the smaller areas.
As previously reported, power was installed and commissioned to the site over the Christmas holiday period and is currently being installed underground for the drilling. The drilling is targeting the KORES NI 43-101 non-compliant historical reserves from 1998 which suggest a target grade of above 0.4% is to be expected in un-mined areas. These areas remain un-mined as they protect the old mine infrastructure excavations that are not required in the new mine plan. A qualified person has not done sufficient work to classify historical estimates as current mineral resources or reserves and the Company is not treating the historical estimate as current mineral resources or reserves but as a historical estimate that should not be relied upon.
Brian Wesson, President, CEO and Director of Woulfe said, "We are working closely with Korea Zinc to advance the Strategic Partner deal. We are disappointed at the speed of progress of the agreed drill plan as the data is required to complete a review of our resources and mining plan for the initial years of mining. It is in the initial years that the mining plan shows the project capital will be recouped.
"However, given the redesign of the program and the appointment of Mr Don Smith, an experienced Australian Geologist on site, we are confident that we can complete the drilling by Q2 this year which will be followed by an updated resource estimate."
The information described in this news release, has been reviewed and approved by Colin Lutherborrow, a Qualified Person under National Instrument 43-101.
On Behalf of the Board of Directors
Woulfe Mining Corp.
Brian Wesson, President, CEO and Director
http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n…
Trading Spotlight
Hansa Resources arranges $270,000 private placement
2011-02-01 17:51 ET - News Release
Mr. John Nugent reports
HANSA ANNOUNCES $270,000 PRIVATE PLACEMENT
Hansa Resources Ltd. has arranged a non-brokered private placement of up to three million units at a price of nine cents per unit to raise up to $270,000. Each unit comprises one common share and one share purchase warrant. Each warrant will entitle the holder to purchase an additional common share of the company for a period of two years from closing at a price of 10 cents per share. The proceeds of this financing will be used for working capital.
We seek Safe Harbor.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:HRL-1805291…
2011-02-01 17:51 ET - News Release
Mr. John Nugent reports
HANSA ANNOUNCES $270,000 PRIVATE PLACEMENT
Hansa Resources Ltd. has arranged a non-brokered private placement of up to three million units at a price of nine cents per unit to raise up to $270,000. Each unit comprises one common share and one share purchase warrant. Each warrant will entitle the holder to purchase an additional common share of the company for a period of two years from closing at a price of 10 cents per share. The proceeds of this financing will be used for working capital.
We seek Safe Harbor.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:HRL-1805291…
Antwort auf Beitrag Nr.: 40.964.479 von Hanfy am 01.02.11 21:09:05zum schluss nochmal gas gegeben, bereits +37% diese woche. LGM macht sich richtung 90c auf. RIN schleicht auch weiter hoch. einzig WOF macht momentan noch ein wenig sorgen..
n8
n8
WOF sieht heute böse aus, dafür kann CUE das portfolio geringfügig aufwerten:
Shoal Point's 3K-39 well at surface casing point
2011-01-31 10:16 ET - News Release
Mr. R. Murray reports
SHOAL POINT 3K-39 WELL UPDATE WESTERN NEWFOUNDLAND
Shoal Point Energy Ltd. is presenting the following information on the Green Point oil-in-shale project in the Port au Port Bay area in Western Newfoundland:
Drilling
The DLMC et al. Shoal Point 3K-39 well is currently at the surface casing point. The surface hole is on target and the next operation will be to run and cement 244.5mm casing to surface. Since the current well is twinning the earlier 2K-39 well, the geology in the two wells correlates very closely, as expected.
Project Research
In order to maximize our understanding of the Green Point shale play, and to plan the current well, the project group has conducted or commissioned a number of investigations. These include outcrop sampling; petro-physical re-interpretation of well logs; geophysical re-mapping; resource estimating and a re-evaluation of the K-39 drillstem test.
As part of this program, we have examined closely the information provided by the 2K-39 well. In the course of so doing, it has been noted that certain statements to the effect that 2K-39 flowed some 54 bbls of oil into the wellbore are not substantiated by the well records. In fact no oil flowed from the formation into the wellbore and the well was at all times under control. The source of the oil which was observed in the mud was from oil liberated by cuttings from the thick oil-bearing shale being penetrated by the drill.
"We are pleased that the drilling of 3K-39 is progressing well and confirming the results of the earlier 2K-39 borehole, and look forward to our complete evaluation of the Green Point target over the next days and weeks. Our geological team in Calgary has recently completed a comprehensive review of data from wells and outcrop in the area of Port au Port Bay and we are very pleased with the results. 3K-39 is designed to greatly enhance that database and provide us with key information on the amount of oil that may be recovered from the unconventional Green Point reservoir" said George Langdon," CEO of Shoal Point Energy Ltd.
We seek Safe Harbor.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aSHP-18045…
Finavera Renewables still in talks with equity provider
2011-01-31 09:37 ET - News Release
Mr. Jason Bak reports
FINAVERA RENEWABLES PROVIDES BRITISH COLUMBIA PROJECT FINANCE UPDATE
Finavera Renewables Inc. has provided an update on the process to secure financing for the company's 301-megawatt portfolio of wind projects in British Columbia. On Dec. 2, 2010, the company announced it was completing due diligence and negotiations with one preferred equity provider and expected to sign definitive agreements for one or more of the near-term projects by the end of January, 2011. Finavera continues to negotiate terms with the preferred equity provider and will provide a further update on the process before Feb. 15, 2011.
We seek Safe Harbor.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:FVR-1804508…
2011-01-31 10:16 ET - News Release
Mr. R. Murray reports
SHOAL POINT 3K-39 WELL UPDATE WESTERN NEWFOUNDLAND
Shoal Point Energy Ltd. is presenting the following information on the Green Point oil-in-shale project in the Port au Port Bay area in Western Newfoundland:
Drilling
The DLMC et al. Shoal Point 3K-39 well is currently at the surface casing point. The surface hole is on target and the next operation will be to run and cement 244.5mm casing to surface. Since the current well is twinning the earlier 2K-39 well, the geology in the two wells correlates very closely, as expected.
Project Research
In order to maximize our understanding of the Green Point shale play, and to plan the current well, the project group has conducted or commissioned a number of investigations. These include outcrop sampling; petro-physical re-interpretation of well logs; geophysical re-mapping; resource estimating and a re-evaluation of the K-39 drillstem test.
As part of this program, we have examined closely the information provided by the 2K-39 well. In the course of so doing, it has been noted that certain statements to the effect that 2K-39 flowed some 54 bbls of oil into the wellbore are not substantiated by the well records. In fact no oil flowed from the formation into the wellbore and the well was at all times under control. The source of the oil which was observed in the mud was from oil liberated by cuttings from the thick oil-bearing shale being penetrated by the drill.
"We are pleased that the drilling of 3K-39 is progressing well and confirming the results of the earlier 2K-39 borehole, and look forward to our complete evaluation of the Green Point target over the next days and weeks. Our geological team in Calgary has recently completed a comprehensive review of data from wells and outcrop in the area of Port au Port Bay and we are very pleased with the results. 3K-39 is designed to greatly enhance that database and provide us with key information on the amount of oil that may be recovered from the unconventional Green Point reservoir" said George Langdon," CEO of Shoal Point Energy Ltd.
We seek Safe Harbor.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aSHP-18045…
Finavera Renewables still in talks with equity provider
2011-01-31 09:37 ET - News Release
Mr. Jason Bak reports
FINAVERA RENEWABLES PROVIDES BRITISH COLUMBIA PROJECT FINANCE UPDATE
Finavera Renewables Inc. has provided an update on the process to secure financing for the company's 301-megawatt portfolio of wind projects in British Columbia. On Dec. 2, 2010, the company announced it was completing due diligence and negotiations with one preferred equity provider and expected to sign definitive agreements for one or more of the near-term projects by the end of January, 2011. Finavera continues to negotiate terms with the preferred equity provider and will provide a further update on the process before Feb. 15, 2011.
We seek Safe Harbor.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:FVR-1804508…
Antwort auf Beitrag Nr.: 40.867.032 von Hanfy am 14.01.11 23:57:34update
wieder eine recht miese woche für RIN. doch obwohl die größten werte auf wochentief geschlossen haben (RIN, CUE, TNO, WOF 1/2 cent davor), hat sich das portfolio mit einem gesamtabschlag von 3c vom top (s. post #682) imo gut gehalten.
alle genannten werte sind täglich extrem überverkauft und sollten sich imo nächste woche wieder erholen. WOF wöchentlich mit doppelter unterstützung bei den lows vom seitwärtsgang mitte dez.10 um 27/28c. NKL wird wohl jetzt bis ende mai nicht mehr gehandelt.
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allen ein erholsames we..
wieder eine recht miese woche für RIN. doch obwohl die größten werte auf wochentief geschlossen haben (RIN, CUE, TNO, WOF 1/2 cent davor), hat sich das portfolio mit einem gesamtabschlag von 3c vom top (s. post #682) imo gut gehalten.
alle genannten werte sind täglich extrem überverkauft und sollten sich imo nächste woche wieder erholen. WOF wöchentlich mit doppelter unterstützung bei den lows vom seitwärtsgang mitte dez.10 um 27/28c. NKL wird wohl jetzt bis ende mai nicht mehr gehandelt.
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allen ein erholsames we..
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